Question 12 (8 points) The demand and supply functions for a good are given by as Pa = 100 - Q P, = 10 + 20 The equilibrium price and quantity are $P = 70 and Q = 30. Assume that the goverment imposes a tax of $20 per unit sold. a) (2 points) Write down the equation of the supply function, adjusted for the tax. The equation for the supply function is: b) (2 points) Find the new equilibrium price and quantity alget The new equilibium price, P=1 The new equilibrium quantity Q= c) (4 points) Calculate the distribution of the benefits of the tax. The percentage of the subsidy that benefits the consumers The percentage of the subsity that benefits the producers = Show your